To amend the Internal Revenue Code of 1986 to reverse certain energy-related modifications enacted by Public Law 119-21.

This bill reverses certain energy-related tax modifications that were enacted by Public Law 119-21. It makes changes to several tax credits and deductions related to energy efficiency and clean energy production.

Section 1, Reversal of certain energy-related modifications enacted by Public Law 119-21: This section makes several changes to the Internal Revenue Code of 1986. It terminates the energy efficient commercial buildings deduction by striking subsection (i) of section 179D. It extends the new energy efficient home credit by changing the expiration date from June 30, 2026 to December 31, 2032 in section 45L(h). It extends the facility construction deadline for the clean hydrogen production credit from January 1, 2028 to January 1, 2033 in section 45V(c)(3)(C). It modifies the clean electricity production credit by removing a subject-to-paragraph provision and changing the phase-out trigger from calendar year 2032 to the later of the year when annual U.S. electricity production greenhouse gas emissions are 25% or less of 2022 levels, or 2032. It also modifies the clean electricity investment credit by removing a subject-to-paragraph provision. All amendments take effect as if included in the original Public Law 119-21 provisions.